Egypt
Ǧumhūriyyat Miṣr al-ʿArabiyyah |flag= |COA= |map= |capital= |languages= |demonym= Egyptian |estab1name= |estab1time=c. 3100 BC |estab2name= from the United Kindom|estab2time=February 28, 1922 |estab3name= |estab3time=June 18, 1953 |estab4name= |estab4time=March 30, 2011 |GDP-PPP-total= $508.265 billion (2011) |GDP-PPP-pc= $6,361 (2011) |GDP-nomin-total= $231.111 billion (2011) |GDP-nomin-pc= $2,892 (2011) |currency= Egyptian pound }} Egypt ( ; , Miṣr Arabic: mesˤɾ; Egyptian Arabic: mɑsˤɾ; Coptic: Ⲭⲏⲙⲓ Kīmi), officially known as the Arab Republic of Egypt is a modern country located in and , thus being a . It is bordered by Libya to the west, Israel to the east, and Sudan to the south. The economy of Egypt is one of the most diversified of all the countries in the Middle East, with sectors including tourism, agriculture, industry, and service at almost equal production levels. Etymology The name Egypt was borrowed from Egypte, from the word Aegyptus, from Aígyptos (Αἴγυπτος), from the earlier ���������� a-ku-pi-ti-yo. The adjective aigýpti-'', ''aigýptios was borrowed into the as ⲅⲩⲡϯⲓⲟⲥ/ⲕⲩⲡϯⲓⲟⲥ gyptios, kyptios, and from there into the as qubṭī, back formed into qubṭ, whence English . The Greek forms of the word were borrowed from (Amarna) Hikuptah "Memphis", a change of the earlier name Hwt-ka-Ptah (ḥwt-kꜣ-ptḥ), which translates into "home of the (soul) of Ptah", the name of a temple to the god at . credited the word to a in which the word Aígyptos (Αἴγυπτος) evolved as a combination of Aigaiou huptiōs (Aἰγαίου ὑπτίως), which translates into "below the ". Miṣr, the Arabic and modern official name of Egypt ( : Maṣr) comes from origins, being directly with other words for Egypt, such as (Mitzráyim), meaning "the two straits" (a reference to the dynastic separation of upper and lower Egypt). The original word connoted "metropolis" or "civilization" and means "country", or "frontier-land". The Ancient Egyptian name is Kemet ��������, meaning "black land", referring to the dark-colored fertile soils of the Nile flood plains, in comparison to the deshret, or "red land" of the . It is realized as kīmi and kīmə in the Coptic stage of Egyptian, and appeared in Early Greek as Χημία (Khēmía). An alternate name was tꜣ-mry, meaning "land of the riverbank". The names of were Ta-Sheme'aw (tꜣ-šmꜥw) "sedgeland" and Ta-Mehew (tꜣ mḥw) "northland". History There is a significant amount of evidence to suggest that people first settled in Ancient Egypt during the 10th millennium BC; however, it wasn't until 3100 BC that a unified state was developed. From this time over the next three millennia, a ruled over the land of Egypt. Afterward, Egypt became part of the Achaemenid Empire and then the Ptolemaic Kingdom, Roman Empire, and Byzantine Empire. After the Greco-Roman rule in Egypt ended, a number of and s were formed in northeastern Africa and portions of Asia, including portions of Egypt. These ruled the country until 1517, when the Ottoman Empire established a province in the area, known as the Egypt Eyalet, and later, the Khedivate of Egypt. The Sultanate of Egypt, administered as a British , was established in 1914, which was followed by the Kingdom of Egypt, the Republic of Egypt, the United Arab Republic, and finally modern-day Egypt. On March 30, 2011, Egypt developed a following a against then- . Economy :For more information, see Economy of Egypt Egypt's economy is mainly dependent on agriculture, media, petroleum exports, and tourism; currently, there are over three million Egyptians working in foreign countries, mainly in Saudi Arabia, around the , and Europe. An estimated 2.7 million of these workers contribute actively to the development of Egypt via remittances (US$ 7.8 billion in 2009), as well as circulation of human and social capital and investment. In 1970, the completion of the and the resultant have dramatically changed the amount of land near the for agriculture and ecology. A rapidly changing population, along with little and dependence on the Nile are all contributing to overtaxing resources and stressing the economy. .}} The government of Egypt has invested its money in communications and physical infrastructure. Egypt has received from the United States (since 1979, an average of $2.2 billion per year), being the third largest recipient of these funds, followed by the . The main revenues of Egypt, however, are from tourism as well as the traffic going through the . Egypt has created its own energy market which is based on coal, oil, , and . Substantial deposits of coal are found in the northeast and are mined at a rate of approximately 600,000 (590,000 ; 660,000 ) yearly. Oil and gas, however, are produced in the western desert, the , and the Nile Delta. Egypt has massive reserves of gas, at an estimated 470 cubic miles (1940 km³), and transports to many countries. Economic conditions in Egypt have considerably begun to improve after a period of inactivity from the adoption of more liberal economic policies by the government as well as the increased revenues coming from tourism and a booming stock market. In its yearly report, the International Monetary Fund, or IMF, has rated Egypt as one of the top countries in the world undertaking economic reform. Some important economic reforms taken by the Egyptian government since 2003 include a major slashing of customs and tariffs. A new taxation law carried out in 2005 decreased corporate taxes from 40% to 20%, resulting in a proposed 100% increase in tax revenue by 2006. Foreign Direct Investment, or FDI, into Egypt has considerably increased during the past few years, reaching more than $6 billion in 2006, as a result of recent economic liberalization measures taken by , Egypt's minister of investment. Though one of the main obstacles faced by the Egyptian economy is the trickle down of the wealth to the average population, several residents of Egypt criticize the government for the higher prices of basic goods while their or purchasing power stays lacking progress. Corruption is often considered by the residents is the main obstruction to further economic growth. Daily News Egypt - Full Article The government has promised major reconstruction of infrastructure in Egypt, using the money paid for the new third mobile license ($3 billion) by the of the United Arab Emirates. The most noted multinational companies from Egypt are the and . Over the past few years, the IT sector has expanded rapidly, with many start-ups selling outsourcing services to North American and European countries, operating with companies including , , and other major corporations as well as small and medium enterprises. Some of these smaller enterprises are the , , , and . The IT sector has since been stimulated by new Egyptian entrepreneurs with encouragement by the government. Numismatics One of the first coins minted in modern-day Egypt was a gold stater from the reign of . At the time, the area was part of the Achaemenid Empire, which introduced a currency system comprising of darics and sigloi. Portions of the Achaemenid Empire, including part of Egypt, were annexed to Macedonia by , introducing the drachma to the area. After Alexander's death, Egypt began to be ruled by the Ptolemaic Kingdom, which introduced its coinage in the area, which were the only coins permitted to be circulated in Egypt. Around 30 BC, after Egypt was incorporated into the Roman Empire as , Roman coins began to circulate. It later became part of the Byzantine Empire, and Byzantine solidi and nummi began to be produced at the newly reopened Alexandria Mint, under leadership by . The Persians took control of Egypt between 617 and 628, and in 1640 forces led by entered Egypt. Despite this, Byzantine coins continued to circulate in the area, until coins bearing inscriptions and depictions of began to circulate. As a result, the Muslim rulers of Egypt began to issue their own dinar and dirhem coins, which bore Islamic inscriptions. Coins of this fashion were struck by the Abbasids, Tulunids, Fatimids, Ayyubids, and Mamluks from around 711 to 1517. In 1517, after the fall of the Mamluk Sultanate, the Ottoman Empire took control of Egypt. During this time, the Egyptians developed a piastre currency based on the then-circulating currency of the Ottoman Empire. The currently circulating currency of Egypt, the pound, was introduced in 1834, under leadership by . }} Egypt on foreign currency .]] The reverse of the of the United States features an with the floating above. It comprises 13 layers, which refer to the thirteen original colonies. The pyramid represents strength and duration. The seal is located on the reverse of the U.S. dollar bill. A similar pyramid, designed by , was used on the Continental 50 dollar banknote. How Stuff Works In 1970, to mark the 10th anniversary of its independence, Chad issued commemorative 200 and 10,000 franc coins which featured . In 1997, Gibraltar issued two commemorative coins, with the topic of the of mankind, which featured ancient Egyptian people, the pyramids, and hieroglyphics. Also during that year, the Isle of Man issued a 1 pound coin commemorating the history of the , which featured an Egyptian goddess on its reverse. Other countries and territories that have referenced Egypt on coins include the British Virgin Islands, Cuba, Dominica, and the Saharawi Arab Democratic Republic. References * }} Category:African countries Category:Countries Category:Egypt Category:Member states of the African Union